Tuesday Papers: GSK chairman to step down ahead of break-up

Top stories

Financial Times: Philip Hampton is to quit GlaxoSmithKline as chairman just a month after the UK drugmaker announced a break-up.

The Daily Telegraph: Jeremy Corbyn has bowed to pressure from Labour party members and MPs to endorse a plan to force a second EU referendum.

The Times: Researchers have predicted that more than 175,000 jobs will be lost from struggling high street stores over the next year as the boom in internet shopping hastens their decline.

The Times: Britain is expected to grow faster than Germany and Italy and just as fast as France after the International Monetary Fund left outlook for the UK unchanged at 1.5% this year and 1.6% in 2020.

Financial Times: Frustrated with the slow pace of Standard Chartered’s turnround, the bank’s largest investor Temasek is stepping up pressure on the UK-listed bank ahead of his pivotal strategy update in February.

Financial Times: Google was fined €50 million under the EU’s new privacy rules for failing to be transparent about how it uses data and not having a legal basis for personalising ads.

Business and economics

The Guardian: North-east England would suffer the biggest decline in economic output of any UK region by the middle of the 2030s in case of a no-deal Brexit, an analysis of government figures by Britain’s leading business lobby group.

The Times: Rolls-Royce has pitched its equipment for use in the proposed Chinese nuclear plant in Essex, in a fresh move to secure a central role in Britain’s nuclear revival.

The Guardian: Peter Plumb, the Just Eat chief executive, has resigned with immediate effect, only 16 months after he joined the British takeaway ordering website.

The Times: British Land yesterday ousted two of its longest-serving and highest-paid executive directors - Tim Roberts, head of offices, and Charlie Maudsley, head of retail, leisure and residential.

The Times: Superdry has hired a former Nike executive, Phil Dickinson, as creative director amid a continued public battle with its co-founder, Julian Dunkerton.

Daily Mail: Mountain Warehouse reported record Christmas trading following a surge in sales of socks, fleeces and gloves, defying the High Street gloom.

Daily Mail: William Hill shares plunged on Monday after the bookmaker said it expected full-year profits to fall 15%.

Financial Times: German glue and detergent maker Henkel has cut profit outlook for 2019 as it ramps up investment to spur growth.

The Times: Tesla has been given authorisation to start selling its cheapest and most popular Model 3 car in Europe.

The Daily Telegraph: Lenders to Patisserie Valerie fear multimillion-pound loans will be almost completely wiped out by the potential collapse of Luke Johnson's troubled bakery chain.

The Times: The trade conflict with the US and weakening domestic demand have left China’s economy growing at its slowest rate since 1990.

We use cookies to give you the best experience on our website. You can continue to use the website and we'll assume that you are happy to receive cookies. If you would like to, you can find out more about cookies and managing them at any time here. This site is for Professional Investors only, please read our Risk Disclosure Notice for Citywire’s general investment warnings

We use cookies to improve your experience. By your continued use of this site you accept such use. To change your settings please see our policy.